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PVH Group lays down pre-investment conditions for Ethiopia
11
Sep '14
Phillips-Van Heusen (PVH) Corporation, one of the leading American garment companies, has put forth ten conditions to the Government of Ethiopia, before investing in the garment sector in Ethiopia, Addis Fortune reported.

Officials of the company had visited Ethiopia, along with 27 textile and garment factories from different countries, last month.

The conditions that were laid down by PVH include consideration of tax incentives, logistics issues, and priorities for power supply, and getting a ready-made industrial park.

These prerequisites were discussed in a meeting between the representatives of PVH and the Government of Ethiopia officials, State Ministers for Industry, Sisay Gemechu and Tadesse Hiale, Deputy Commissioner of the Federal Investment Commission (FIC) Likyeleshe Abay and representatives from the Textile Industries Development Institute (TIDI).

Ethiopia wants PVH to invest either in Hawassa or Dire Dawa. However, PVH is keen to invest in the Bole Lemi Industrial Zone in the capital city, according to the report.

The Bole Lemi Industrial Zone has two phases, out of which the first phase has 20 shades on 156 hectares and 5 of them are already given to different companies. The remaining 15 are under construction and already given to 22 companies.

PVH is requesting the Government of Ethiopia to grant a ready-to-use industrial park from the phase two of the zone for all the factories it wants to set up in Ethiopia.

PVH, a global company, owns Tommy Hilfiger, Calvin Klein and Heritage brands. (GK)

Fibre2fashion News Desk - India


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